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POSITIONS: Long Healthcare (XLV) and Apple (AAPL); Short Industrials (XLI) and Basic Materials (XLB)

In my note titled “Net Long” at 1140AM EST on Friday, I explained the immediate-term upside scenario. With 1316 TRADE line support intact, we’re looking at finding an immediate-term TRADE overbought signal between 1.

Across my risk management durations, the lines that matter to me most right now are: 

  1. Intermediate-term TREND resistance = 1369
  2. Immediate-term TRADE resistance = 1337
  3. Immediate-term TRADE support = 1316 

With month-end approaching (Thursday) and the Employment Report (Friday) right after that, I don’t think trading the risk of this immediate-term range is going to be easy. Nothing in this business should be.

We currently have 9 LONGS, 6 SHORTS.

Keep moving out there,


Keith R. McCullough
Chief Executive Officer

Net Long II: SP500 Levels, Refreshed - SPX